It’s no secret that employees need more help reaching their retirement goals. Even though investors may have access to more information than ever before, quality advice, especially around retirement, is still out of reach for many. In response, many employers have made online advice tools, such as managed accounts, increasingly available to employees in 401(k) plans. Managed accounts and other online advice tools can help guide employees on how much save, how to invest their savings, and when to retire. But what impact, if any, do these programs have on saving and investing behavior? And what learnings can employers leverage to design a plan that helps employees meet their retirement goals?
Join David Blanchett, Head of Retirement Research, and Daniel Bruns, Vice President, Retirement Strategy, as they discuss their research on:
- The impact that managed accounts may have on employee savings and investing habits
- How employees use a plan’s default investment and how various default decisions can lead to different retirement outcomes
- Plan design features that can be used to further improve employee savings and overall retirement readiness